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Beverly Announces Placement of $100 Million Offering of 2.75% Convertible Subordinated Notes Due 2033.

Publication: Business Wire
Publication Date: 16-OCT-03 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Business Editors

FORT SMITH, Ark.--(BUSINESS WIRE)--Oct. 16, 2003

Beverly Enterprises, Inc. (NYSE:BEV) today announced that it has entered into an agreement to sell, subject to customary conditions, $100 million in principal amount of 2.75% Convertible Subordinated Notes due 2033. The Notes will bear interest at the rate of 2.75% per annum. The Notes will be general unsecured obligations subordinated in right of payment to Beverly's existing and future senior indebtedness. The Notes will be convertible at the option of the holder under certain circumstances prior to maturity into shares of Beverly's common stock at an initial conversion price of $7.45 per share. Beverly may sell...

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